A new Bitcoin wallet has hit the market today — called iPayYou (iPayYou.io) — the service claims to be the world's “easiest, safest, and most useful wallet.” Currently available only via the web, Android and iOS applications are scheduled to launch in the coming months. The team believes the platform's unique features will attract a broad user base.
A Wallet Designed for Everyday Consumers
iPayYou says its wallet service is so simple that users can send Bitcoin to anyone — even someone who has never heard of cryptocurrency. The company promises to make it easy for recipients to understand and adopt Bitcoin. One frictionless method is sending via email without needing a wallet address. In addition to a simple interface, the wallet will soon add a “Lock Price” feature that lets users keep the dollar amount constant when sending Bitcoin. The company also plans to offer cash-back rewards and discounted gift cards.
Speaking at the Consensus 2016 conference in New York, founder Gene Kavner told Bitcoin.com: “I believe we are doing something revolutionary with iPayYou, the world's easiest, safest and most user-friendly Bitcoin Wallet. It is the first wallet whose primary goal is to expand the ecosystem of Bitcoin users – from those who are generally highly technical, young, and male to a wider group of everyday consumers who will use it for their normal financial activities.”
Security and Unique Transaction Cancellation
Kavner explains that iPayYou is not only a secure storage option but also allows users to buy and sell Bitcoin through its secure framework. The service enables customers to cancel transactions, a feature most crypto wallets lack, which can be extremely useful for newcomers to fix costly sending mistakes. Private keys are encrypted on the company's server, and the platform uses 2048-bit certificate security. The iPayYou website states, “no one can decipher the keys, even our employees.”
The founder and CEO Gene Kavner is a former Amazon executive who has also worked with other prominent companies such as Microsoft and Expedia. A huge Bitcoin enthusiast, Kavner wanted to create a wallet that the mainstream could easily relate to. He believes iPayYou is one of a kind, offering low-cost Bitcoin wallet services aimed at the average person. Kavner adds: “Besides having some of the lowest fees anywhere to purchase and sell Bitcoin, iPayYou features consumer-friendly unique features. It changes the way people send Bitcoin by prioritizing email payments. When Bitcoin is sent by email, recipients' accounts are automatically created, eliminating the need for pre-created accounts and addresses. Senders can cancel payments if sent to the wrong email address. Many new features are on the way, along with iOS and Android apps.”
The team launched their service during the three-day Consensus event in New York, where many executives, developers, and innovators gathered. The “never-before-seen features” are aimed at everyday people. “We believe iPayYou is the first Bitcoin wallet for the rest of us – making Bitcoin simple for average consumers,” Kavner says.